Petrol and diesel price rises push UK inflation higher

Rises in petrol, diesel and airfares pushed UK inflation up to its highest level in five months in the year to August.

Inflation accelerated to 3.1% from 2.9%, according to the Office for National Statistics (ONS).

The cost of filling up a vehicle soared in August as the conflict in the Middle East continued to disrupt global oil supplies. Petrol prices jumped to their highest for nearly four years, the ONS said, while diesel also rocketed.

Meanwhile, the cost of flying jumped during the key month for summer getaways.

Overall, motor fuel prices rose by 23% compared to August last year.

Oil hit more than $91 a barrel as the US-Israel war with Iran went on. That compares to around $73 just before hostilities began earlier this year.

As a result, average petrol prices have continued to climb and between July and August, they rose by 9.1p to 161.3p per litre.

"This is the highest price recorded since November 2022," said the ONS. At that point, Russia's full-scale invasion of Ukraine had pushed up global energy costs.